Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Sep 6, 2026
Ernexa Therapeutics Inc. (ERNA)
A forensic read on Ernexa Therapeutics Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Distress
Financial health
-147.2
Distress distance
Clean
Earnings quality
5
Forensic signals
-586.6%
ROE
755.9%
Revenue growth
The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Ernexa Therapeutics Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads -147.2, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 5 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
n/m (sign flip)
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets flipped from negative to positive FY2024→FY2025 (FY2024 $0.0M to FY2025 $+2.4M) — the standard accruals ratio divides by the average of the two, which collapses toward zero right as the sign changes, so the resulting percentage is a denominator artifact, not a real accrual measurement. Treat this as a structural balance-sheet shift to understand on its own terms rather than a clean or dirty accruals read.
38d DSO
FY2019→FY2020
Receivables vs revenue.Measured to FY2020 — 5 years behind FY2025, the most recent year this filer has reported, because no later fiscal year carries receivables and revenue together. What follows is the last reading these filings support on this line, not a read on the business as it files today. Days sales outstanding moved from 22 to 38 days FY2019→FY2020 (receivables -100% vs revenue -71%). Receivables are creeping up relative to sales.
n/m (stock split)
FY2022–FY2025
Share count (stock split).Diluted share count changed +107% over the last 3 years to FY2025, but that includes a large one-time change around FY2023 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw +27.4%/yr figure isn't a real buyback/dilution read here.
261% of rev
FY2024
Stock-based comp load.Stock-based compensation ran 261% of revenue in FY2024 — about $1.67 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 40.9% a year, above the level at which the count is a material claim on a stake, and only one year's change is on file — enough to state what a holder gave up, not enough to say whether the rate is climbing or coming down. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
Key fundamentals
Latest Revenue$582,000.00
Revenue Growth YoY+755.9%
Net Margin-7652.7%
Free Cash Flow-$7.1M
Return on Equity-586.6%
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Ernexa Therapeutics Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 6, 2026. Forensic signals flag probability, not certainty.
Ernexa Therapeutics Inc. (ERNA) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
$662,000
FY2020–FY2020
Goodwill impairments.Took $662,000 of goodwill writedowns across 1 year (FY2020 ($662,000)). Writedowns mean past acquisitions underperformed what was paid for them.